Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Hit a major milestone this week!
Old 02-20-2013, 12:33 PM   #1
Recycles dryer sheets
iam21177's Avatar
 
Join Date: May 2011
Posts: 159
Hit a major milestone this week!

My husband and I just passed the half a million mark! I am 36 and he is 34.

A total of 50.2% of our income goes into retirement (36% of our own income, plus our university employer gives us 14.2% of our salaries).

We're contributing to:
  • two 457(b) accounts (maxed)
  • two Roth IRAs (maxed)
  • one HSA (maxed) (soon to be two HSAs)
  • part of one 403(b)

The 14.2% of our salaries goes to our 401(a) accounts which is standard for all professional employees here.

I like to celebrate anything and everything. This month marks our 6 month wedding anniversary as well. The plan is to go to out to dinner in the big city and redeem an old REI gift card someone gave us (even though we eloped).

(Net worth is probably in the $550,000 mark with the house.)

Yippeeee!
__________________

__________________
iam21177 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 02-20-2013, 01:19 PM   #2
Dryer sheet wannabe
 
Join Date: Jan 2008
Posts: 17
A big congratulations to you and the DH. Half a mil already and saving 36% of your own income with a big contribution from employers will make that next milestone all the easier. Good for you!!
__________________

__________________
ChiSaver is offline   Reply With Quote
Old 02-20-2013, 02:05 PM   #3
Recycles dryer sheets
 
Join Date: May 2012
Posts: 89
Holy, do you get a pension too? If so you will be all set in a few short years.
__________________
hlfo718 is offline   Reply With Quote
Old 02-20-2013, 02:14 PM   #4
Recycles dryer sheets
iam21177's Avatar
 
Join Date: May 2011
Posts: 159
Quote:
Originally Posted by hlfo718 View Post
Holy, do you get a pension too? If so you will be all set in a few short years.
No, no pension. The secretarial and custodial employees will get a pension (aka classified employees), but the rest of us get the 401(a) gift as part of our benefits package.

I am due for a raise here shortly since I finished my master's in engineering (same desk, new duties). It's all being reviewed currently. I am expecting at least a 40% pay increase. I work with some people who have engineering titles (and salaries) and no engineering degrees. I would assume/hope I would at a minimum get a similar title, or one step up! That's my logic. We'll see!
__________________
iam21177 is offline   Reply With Quote
Old 02-20-2013, 02:29 PM   #5
Recycles dryer sheets
TOOLMAN's Avatar
 
Join Date: Jan 2013
Posts: 220
Quote:
Originally Posted by ginadog View Post
My husband and I just passed the half a million mark! I am 36 and he is 34.HSAs)
(Net worth is probably in the $550,000 mark with the house.)

Yippeeee!
Way to go!!

You are on a faster track to ER than we were at your age. When I hit the 500K NW mark I wanted to tell everyone, but I soon discovered most people did not share in my excitement when I told them about reaching a mile stone goal. That was a big let down because it takes a lot of work and self discipline to make it to that point. I have stopped sharring the mile markers with nearly everyone now. However the nice thing about this site is; you can celebrate with people who appreciate and respect your accomplishment, without the jealousy you may find with those of your age.

Way to go!!
__________________
TOOLMAN is offline   Reply With Quote
Old 02-20-2013, 02:42 PM   #6
Recycles dryer sheets
iam21177's Avatar
 
Join Date: May 2011
Posts: 159
Quote:
Originally Posted by TOOLMAN View Post
Way to go!!

You are on a faster track to ER than we were at your age. When I hit the 500K NW mark I wanted to tell everyone, but I soon discovered most people did not share in my excitement when I told them about reaching a mile stone goal. That was a big let down because it takes a lot of work and self discipline to make it to that point. I have stopped sharring the mile markers with nearly everyone now. However the nice thing about this site is; you can celebrate with people who appreciate and respect your accomplishment, without the jealousy you may find with those of your age.

Way to go!!
Thank you! It is a hard topic share with others - so glad I have this forum! People might think we are rolling in it and feel we should be paying for other's things.
__________________
iam21177 is offline   Reply With Quote
Old 02-22-2013, 03:01 PM   #7
Dryer sheet aficionado
 
Join Date: Aug 2012
Location: Chicago, IL
Posts: 45
Congratulations! It indeed is impossible to share this milestone with others. When I shared our own milestone with my wife she chastised me for bragging.
__________________
er33 is offline   Reply With Quote
Old 02-22-2013, 03:14 PM   #8
Recycles dryer sheets
iam21177's Avatar
 
Join Date: May 2011
Posts: 159
Quote:
Originally Posted by er33 View Post
Congratulations! It indeed is impossible to share this milestone with others. When I shared our own milestone with my wife she chastised me for bragging.
Wait?!? Your own wife chastised you for bragging about the both of your financial achievement? Now that is messed up, sorry.

You can brag about your own awesomeness to each other! That is totally OK!
__________________
iam21177 is offline   Reply With Quote
Old 02-27-2013, 05:56 PM   #9
Moderator Emeritus
laurence's Avatar
 
Join Date: Feb 2005
Location: San Diego
Posts: 5,234
Wow, congratulations! We are only at $400k and we are 38/37! These amounts may not make us FIRE, but they do give a level of independence and freedom most people will never know.
__________________
laurence is offline   Reply With Quote
Old 02-28-2013, 02:35 AM   #10
Thinks s/he gets paid by the post
obgyn65's Avatar
 
Join Date: Sep 2010
Location: midwestern city
Posts: 4,061
Congratulations !
__________________

__________________
Very conservative with investments. Not ER'd yet, 48 years old. Please do not take anything I write or imply as legal, financial or medical advice directed to you. Contact your own financial advisor, healthcare provider, or attorney for financial, medical and legal advice.
obgyn65 is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 03:19 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.